Tata Motors sales up 2% at 40,944 units in December
Tata Motors on Monday reported a 2 per cent increase in total sales at 40,944 units in December as against 39,973 units sold in the year ago period. Domestic sales of Tata Motors' commercial and passenger vehicles increased by 1 per cent to 35,825 units in December 2016 over the same period of 2015. - See more at: http://www.investmentguruindia.com/TopNews/Tata-Motors-sales-up-2-at-40944-units-in-December.
India's core sector output growth slows to 4.9% in Nov: Govt
For the first eight months of the current fiscal year, which ends in March 2017, the output growth came in at 4.9 percent.
Electricity generation, however, grew 10.2 percent year-on-year in November, faster than a 2.8 percent rise in the previous month.
Government To Seek Public Opinion On Digital Payments
As part of a new outreach program post demonetisation, the government has sought public opinion on digital payments, as the 50-day remonetisation deadline ends on Friday.
The government has asked people to go through the report of the committee on digital payments and give suggestions on it till January 11. The government will go through all the suggestions and a subsequent decision will be taken on digital payment initiatives.
Aviation turbine fuel (ATF) price was today hiked by a steep 8.6 per cent and subsidised LPG rate raised by Rs 2 per cylinder, the 8th increase in cooking gas price in seven months.
ATF or jet fuel price was hiked by Rs 4,161 per kilolitre (kl), or 8.6 per cent, to Rs 52,540.63 per kl in Delhi. The hike comes on back of a 3.7 per cent cut in rates last month.
Also, the rate of subsidised LPG rate was hiked by Rs 2 per 14.2-kg cylinder and it will now cost Rs 434.71 a bottle as against Rs 432.71 previously, according to state-owned Oil companies.
This is the 8th increase in price since July when the government decided to go in for a small hikes of up to Rs 2 per bottle every month to cut down its subsidy outgo.
LPG rates were last hiked on December 1 by Rs 2.07 per cylinder.
A day after Prime Minister Narendra Modi urged banks to take decisions keeping in mind the welfare of the poor, state-run SBI today slashed its key lending rate by 90 basis points (0.9 percent) across all maturities.
The cut in the marginal cost of funds based lending rate (MCLR), among the biggest in recent years, is effective January 1, 2017.
The bank has reduced marginal cost of funds based lending rate (MCLR) from 8.90 per cent to 8 per cent for 1 year tenure, SBI said in a statement.
For overnight borrowings, the MCLR has been brought down to 7.75 percent from 8.65 percent. Similarly, the rates have been reduced for tenures of 3 months, 6 months, 2 years and 3 years.
The rates have been revised lower as follows-
3 month MCLR - 7.90 percent from 8.80 percent
6 month MCLR - 7.95 percent from 8.85 percent
2 year MCLR - 8.10 percent from 9 percent
3 year MCLR - 8.15 percent from 9.05 percent
SBI Chairman, Arundhati Bhattacharya welcomed PM's move of benefitting the lower income segments of the country.
"Low cost housing should witness growth in the medium to long term. The government's commitment to a less cash society will also aid in reforming the tax structure for the better", she said
